Sec. 42a-5-110. Warranties.
Sec. 42a-5-110. Warranties. (a) If its presentation is honored, the beneficiary warrants: (1) To the issuer, any other person to whom presentation is made and the applicant
that there is no fraud or forgery of the kind described in subsection (a) of section 42a-5-109; and (2) to the applicant that the drawing does not violate any agreement between
the applicant and the beneficiary or any other agreement intended by them to be augmented by the letter of credit.
(b) The warranties in subsection (a) of this section are in addition to warranties
arising under articles 3, 4, 7 and 8 because of the presentation or transfer of documents
covered by any of those articles.
(1959, P.A. 133, S. 5-110; P.A. 96-198, S. 10.)
History: P.A. 96-198 entirely replaced former provisions re the availability of credit in portions and the relinquishment
by a presenter of all claims to the documents with provisions re warranties, in part a restatement of Sec. 42a-5-111, revised
to 1995.
Cited. 173 C. 492.